Sembcorp Industries has agreed to acquire ReNew Sun Bright Private Limited, the owner and operator of a 300-megawatt solar power project in Rajasthan, India, the company said on Wednesday.
The Singapore-based energy group, through its wholly owned subsidiary Sembcorp Green Infra Private Limited, will purchase 100% of the business from ReNew Private Limited for approximately S$246 million. The deal will be financed through a combination of internal funds and external borrowings.
The solar facility, located in Fatehgarh, began operations in November 2021. It is connected to India’s national grid via the Inter-State Transmission System and supplies power under a 25-year agreement with the Maharashtra State Electricity Distribution Company Limited.
Completion of the transaction is subject to regulatory approvals and other customary closing conditions, with finalisation expected in the first half of 2026.
Following the acquisition, Sembcorp’s total renewable energy capacity in India—both installed and under development—will increase to 6.9 gigawatts. The company’s global gross renewable energy capacity will rise to 19.3 gigawatts, including projects that are yet to be completed.
Sembcorp said the acquisition aligns with its strategy to grow its sustainable energy portfolio in key markets.
